Amazon readying DRM-free music service?

“Amazon is rumored to be readying its own music store for launch next month, which will reportedly sell unprotected MP3s in hopes of cutting into the iTunes Store’s market share.” (via Ars Technica and Digg)

This has not been confirmed as yet but if Amazon were to get into the online MP3 market would you use them over iTunes? I am pretty happy with Apple’s music/movie offerings at the moment but depending on how Amazon has their system it might be compelling to switch over. Amazon’s S3 service was a great idea and had excellent pricing for people who need to backup any amount of data and a music offering done in a similar method Apple may have some decent competition. Do you think that Amazon can take away any of iTunes’ thunder?